I have always found it fascinating listening to and reading the Presidents of the United States after they leave office. All politics aside, it always seems that they are a lot more forthcoming with their insights and answers than they were when in office. They are no longer perpetually on the campaign trail. The pressure is mostly off. I have never understood how the 2010 Citizens United decision and the 2014 McCutcheon decisions ever became part of our national fabrics. For those unfamiliar with the decisions please refer to the here:
Long story short, this is how large individuals and corporations have turned the United States into not a democracy (it never was one) nor a representative republic but an oligarchy.
Last week, on July 28th, radio host Thom Hartmann interviewed President Jimmy Carter. At the end of the interview, Mr. Hartmann asked Mr. Carter what he thought about these two decisions. Here is what Mr. Carter had to say:
"It violates the essence of what made America a great country in its political system. Now it's just an oligarchy with unlimited political bribery being the essence of getting the nominations for President or being elected President. And the same thing applies to governors, and U.S. Senators and congress members. So, now we've just seen a subversion of our political system as a payoff to major contributors, who want and expect, and sometimes get, favors for themselves after the election is over. …
At the present time the incumbents, Democrats and Republicans, look upon this unlimited money as a great benefit to themselves. Somebody that is already in Congress has a great deal more to sell."
Mr. Carter is no longer running for office. He is not even a nomination hopeful. He certainly is not a Senator or Representative who is looking at a political career with no term limits. Those people cannot say "boo" about these decisions; their very political existence depends on the money that flows freely from these wealthy supporters.
Trade well and follow the trend, not the perma-bull OR perma-bear "experts."
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.
On a day I suspected to be slow, the markets made some moves throughout the session. With a heavy drop during the morning session, the DJI almost reached the 200 point loss mark. The DJI had been weak since it has gotten under the 200 day moving average lately. The bounce came into play once the COMP reached the...
Believe it or not, successful traders do not have a crystal ball. All that he or she does successfully is find a potentially favorable set up and then put the odds in such a way where the reward makes sense to the risk. Repeat this process many, many times and you have a system that works out in the long run. I cannot tel...
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Keep a civil tongue.